PLX Technology Sees Significant Growth in Short Interest (PLXT)
PLX Technology (NASDAQ:PLXT) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,633,517 shares, a growth of 37.3% from the July 15th total of 1,190,143 shares, Analyst Ratings.Net reports. Based on an average trading volume of 790,333 shares, the days-to-cover ratio is currently 2.1 days. Approximately 3.8% of the shares of the company are short sold.
Separately, analysts at Craig Hallum downgraded shares of PLX Technology from a “buy” rating to a “sell” rating in a research note on Tuesday, June 24th. They now have a $8.00 price target on the stock.
Shares of PLX Technology (NASDAQ:PLXT) opened at 6.50 on Thursday. PLX Technology has a one year low of $5.27 and a one year high of $6.91. The stock has a 50-day moving average of $6.48 and a 200-day moving average of $6.11. The company has a market cap of $298.7 million and a price-to-earnings ratio of 61.32.
PLX Technology (NASDAQ:PLXT) last announced its earnings results on Wednesday, July 23rd. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.02. Analysts expect that PLX Technology will post $0.27 EPS for the current fiscal year.
PLX Technology, Inc (NASDAQ:PLXT) is engaged in designing, developing, manufacturing, and selling integrated circuits that perform critical system connectivity functions.
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